- “fixEmptyDID” update prevents creation of non-functional ledger entries, enhancing XRPL efficiency by conserving space.
- “fixPreviousTxnID” adds fields to ledger entries for detailed transaction history, improving data traceability and management.
The XRP Ledger, a blockchain platform, has recently implemented two updates that improve its functionality and may influence the operations of Ripple’s anticipated stablecoin, RLUSD. These updates aim to refine the ledger’s performance and data management, essential for its expanding range of applications.
The first update, known as “fixEmptyDID” addresses the issue of empty DID ledger entries. Previously, these entries consumed space on the ledger without functional utility. The update now prevents the creation of such entries by displaying an error when attempted, thereby conserving space and enhancing the ledger’s efficiency.
The second update, “fixPreviousTxnID” introduces the PreviousTxnID and PreviousTxnLgrSequence fields to ledger entries. This change allows for a more detailed record of transaction histories on the ledger, which facilitates easier tracking and verification of past transactions.
Amendments fixPreviousTxnID and fixEmptyDID are now enabled on the xrpl mainnet. These amendments fix the behavior of ledger objects and the upcoming DID support respectively: https://t.co/MJJuIYP903 https://t.co/KubGbW5VsM
— XRPScan (@xrpscan) September 27, 2024
Both updates were supported by 31 validators, surpassing the required 28 out of 35 threshold necessary for implementation. These changes are part of XRPL’s ongoing improvements and are closely tied to Ripple’s development activities, particularly in anticipation of launching their stablecoin, RLUSD.
Ripple has been actively testing RLUSD on the XRP Ledger and Ethereum networks, with two issuances of 485 RLUSD units each, as part of their beta-testing phase. The upgrades to XRPL are expected to enhance the stablecoin’s functionality once it is officially launched, subject to approval from U.S. regulators.
Monica Long, President of Ripple, has indicated that the official rollout of RLUSD is scheduled for later this year, contingent on obtaining regulatory approval in the United States.
She noted that RLUSD aims to serve a broader array of functions compared to Ripple’s native cryptocurrency, XRP. XRP is typically used for smaller transactions, whereas RLUSD will facilitate larger financial and commercial activities.
Moreover, Long mentioned that decentralized exchanges on the XRP Ledger could benefit from the efficiency and robustness brought by RLUSD, enhancing the ledger’s overall capability to support a diverse range of transactions and applications.
These updates underscore Ripple’s strategy to bolster the XRP Ledger’s infrastructure, ensuring it is well-equipped to handle the demands of an evolving digital economy, particularly with the integration of RLUSD.
This approach aims to improve both the network’s capacity and reliability, supporting more complex and voluminous transactions in the future.
